Vestcor Inc Lowers Stock Position in Zoom Communications, Inc. $ZM

Vestcor Inc lessened its stake in Zoom Communications, Inc. (NASDAQ:ZM) by 18.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,086 shares of the company’s stock after selling 5,447 shares during the quarter. Vestcor Inc’s holdings in Zoom Communications were worth $2,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of ZM. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Zoom Communications by 10.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 238,753 shares of the company’s stock worth $19,697,000 after buying an additional 22,704 shares during the last quarter. Strive Asset Management LLC purchased a new position in Zoom Communications in the 3rd quarter worth about $1,238,000. LSV Asset Management raised its position in Zoom Communications by 5.0% in the 3rd quarter. LSV Asset Management now owns 1,069,440 shares of the company’s stock worth $88,229,000 after buying an additional 50,579 shares during the last quarter. Krilogy Financial LLC purchased a new position in Zoom Communications in the 3rd quarter worth about $1,963,000. Finally, Sherry Group Inc. purchased a new position in Zoom Communications in the 4th quarter worth about $894,000. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Analyst Upgrades and Downgrades

ZM has been the subject of a number of recent analyst reports. Needham & Company LLC boosted their target price on Zoom Communications from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Jefferies Financial Group boosted their target price on Zoom Communications from $105.00 to $118.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Cantor Fitzgerald boosted their target price on Zoom Communications from $87.00 to $104.00 and gave the stock a “neutral” rating in a research report on Friday, May 22nd. Benchmark boosted their target price on Zoom Communications from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Finally, KeyCorp raised Zoom Communications from an “underweight” rating to a “sector weight” rating in a research report on Friday, May 22nd. Fifteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, Zoom Communications presently has an average rating of “Moderate Buy” and an average price target of $109.33.

Zoom Communications Price Performance

NASDAQ ZM opened at $101.62 on Monday. Zoom Communications, Inc. has a 52 week low of $69.15 and a 52 week high of $114.74. The firm has a market capitalization of $29.80 billion, a P/E ratio of 14.92, a PEG ratio of 5.64 and a beta of 1.01. The company has a 50-day moving average price of $94.38 and a 200-day moving average price of $88.20.

Zoom Communications (NASDAQ:ZM) last released its quarterly earnings results on Thursday, May 21st. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.42 by $0.13. Zoom Communications had a net margin of 41.99% and a return on equity of 11.87%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Zoom Communications has set its FY 2027 guidance at 5.960-6.000 EPS and its Q2 2027 guidance at 1.450-1.470 EPS. As a group, equities research analysts anticipate that Zoom Communications, Inc. will post 4.06 EPS for the current year.

Insider Buying and Selling at Zoom Communications

In other news, CEO Eric S. Yuan sold 12,100 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $111.61, for a total transaction of $1,350,481.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Velchamy Sankarlingam sold 7,645 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $85.44, for a total transaction of $653,188.80. Following the sale, the insider directly owned 141,971 shares of the company’s stock, valued at $12,130,002.24. The trade was a 5.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 159,228 shares of company stock worth $14,102,835 over the last 90 days. 11.51% of the stock is owned by company insiders.

Zoom Communications Company Profile

Zoom Video Communications, Inc (commonly referred to as Zoom) is a provider of cloud-based communications and collaboration solutions. The company’s platform supports video conferencing, voice calling, instant messaging, webinars and large-scale virtual events, and meeting room systems, marketed to businesses, educational institutions, government organizations and individual users. Zoom’s product lineup includes Zoom Meetings, Zoom Phone, Zoom Rooms, Zoom Video Webinars and Zoom Chat, and the company offers integrations and extensions through a developer marketplace and third-party apps.

Founded in 2011 by Eric S.